§ 58-20-5. Definitions. - North Carolina Statutes

§58‑20‑5.  Definitions.

For purposes of this Article:

(1)        "Association"means a trade or professional association that has been in existence for atleast five years, and has adopted a written constitution, and a written set ofbylaws, and was created for purposes other than for participating in a club.

(2)        "Club"means a commercial fishermen's hull insurance and protection and indemnity clubcreated under this Article.

(3)        "Commercialfisherman" means any individual, corporation, or other business entity whoseearned income is at least fifty percent (50%) derived from taking and sellingfood resources living in any ocean, bay, river, gulf, estuary, tidal wetlands,spoil area, estuation exit or entrance, or any other body of water or tidalwetlands from which a commercial harvest of fish may be taken.

(4)        "Hull Insuranceand Protection and Indemnity" means:

a.         Insurance againstloss or damage to a vessel's hull, lifeboats, rafts, and other operatingequipment of the vessel other than its electrical machinery; and

b.         Insurance againstloss of life, personal injury, or illness to the master, the crew, and otherthird parties, and against damage to any other vessel or property, such ascargo, for which the insured is legally liable. (1987, c. 330.)